Fjordland Exploration Inc.

Fjordland Exploration Inc.

October 04, 2010 07:30 ET

Fjordland: Drilling at Woodjam South Yields 401 m Grading 0.30% Copper and 0.006% Molybdenum

Southeast Zone Expanded to 1500 by 600 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) - Fjordland Exploration Inc. (TSX VENTURE:FEX) and Cariboo Rose Resources Ltd. (TSX VENTURE:CRB), 60%-40% partners in the Woodjam Joint Venture ("WJV"), report that Gold Fields Limited's (NYSE:GFI) exploration company, Gold Fields Horsefly Exploration Corporation ("Gold Fields"), has forwarded drilling results from the first seven holes (2,470 m) of the 2010 campaign on the 13,827-hectare Woodjam South copper-gold-molybdenum property. The property is located 45 km east of Williams Lake in south-central British Columbia.

Hole SE10-01 assayed 0.30% Cu, 0.07g/t Au and 0.006% Mo over 400.9 m. It was collared 200 m south-southwest of hole WJ08-84 which assayed 359.1 m grading 0.69% Cu, 0.27g/t Au and 0.006% Mo, including 200.8 m grading 1.01% Cu, 0.44g/t Au and 0.002% Mo.

Two holes (SE10-03 and SE10-05) were lost prematurely due to drilling difficulties. Hole SE10-06 was weakly mineralized with a few narrow intersections grading over 0.13% copper.

Hole SE10-07 was highlighted by a 234.6 m interval grading 0.24% Cu, including 83.6 m grading 0.38% Cu and 0.001% Mo. The hole was terminated in well-mineralized rock and the last 51.6 m averaged 0.45% Cu, 0.05g/t Au and 0.002% Mo.

The focus of this year's drilling on the Southeast Zone was to expand the limits of the mineralized zone, as suggested by a 2-km by 1-km induced polarization anomaly. Wide-spaced drilling of the seven holes reported below has now extended the area of mineralization to 1500 m by 600 m. The new holes include SE10-04 and SE10-07, a 400-m step-out to the south and 280-m step-out to the north from previous drilling, respectively. As with the previous drilling of 18 holes during 2007-2008, all holes continue to be mineralized from the overburden/bedrock interface to the bottoms of the holes, except for two occurrences of host rock displacement by narrow, younger basalt dykes.

Southeast Zone: Summary of Significant Intercepts
Hole ID From (m) To (m) Int. (m) Cu% Au g/t Mo% Cu Eq %
SE10-01 104.1 505.0 400.9 0.30 0.07 0.006 0.38
including 104.1 203.0 98.9 0.34 0.13 0.002 0.43
SE10-02 81.4 408.0 326.6 0.10 0.02 0.005 0.14
including 81.4 127.0 45.6 0.18 0.04 0.002 0.21
including 332.0 372.0 40.0 0.10 0.01 0.002 0.20
SE10-04 152.5 325.0 172.5 0.19 0.02 0.001 0.29
including 277.0 293.0 16.0 0.29 0.02 0.004 0.53
SE10-07 176.9 411.6* 234.6 0.24 0.03 0.001 0.31
including 328.0 411.6* 83.6 0.38 0.04 0.001 0.49
including 360.0 411.6* 51.6 0.45 0.04 0.002 0.57
Intervals are core lengths; Cu Equivalent in % calculated using US$2.50/lb copper, US$950/oz Au and US$15/lb Mo and the formula: ((%Cu x 22 x Price Cu/lb) + (g/t Au x 0.03215 x Price Au/oz) + (%Mo x 22 x Price Mo/lb))/ (Price Cu/lb x 22). * = end of hole.

Vein, fracture and disseminated porphyry-style mineralization in the Southeast Zone, consisting of chalcopyrite, pyrite, molybdenite and trace bornite associated with potassic and phyllic alteration zones, is hosted by the Takomkane quartz monzonite intrusion and related aplite dykes.

Drilling is continuing as part of a planned 5,000-m drilling program. In addition, a planned 75 line-km induced polarization geophysical surveying is in progress over the broad, unexplored area lying to the southwest of the Southeast Zone. A drill location map may be viewed at

Fjordland President Tom Schroeter said, "The ongoing intersection of continuous copper-gold-molybdenum mineralization in the Southeast Zone has significantly increased the size potential of the system. We look forward to building on this size, which remains open laterally in all directions and at depth, as well as determining the grade potential."

Core samples were analyzed by ALS Chemex Laboratories, a certified facility in Vancouver, BC. Tom Schroeter, P.Eng./P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.

Woodjam North Update

Phase Two drilling is underway at the adjoining Woodjam North gold-copper property where approximately 5,000 metres of drilling is planned. Work at Woodjam North also includes a 26 line-km induced polarization survey to identify further exploration targets.

About Fjordland Exploration Inc.

Fjordland Exploration is a mineral exploration company focused on the discovery of gold, copper and molybdenum deposits in British Columbia. Of the 20 properties Fjordland currently owns, the Woodjam North and Woodjam South properties (totaling 56,150 ha) are part of the Woodjam Joint Venture between Fjordland (60%) and Cariboo Rose Resources Ltd (40%); both properties are under option to Gold Fields Horsefly Exploration Corporation. Fjordland also has a 100% interest in 7 properties known as "Tak" totaling 52,342 ha in the Woodjam area, and the 2,192 ha Milligan project adjoining Terrane Metals' (TSX-V: TRX) Mt. Milligan copper-gold deposits; the Tak-Milligan properties have been optioned to Capstone Mining Corp. (TSX: CS). Fjordland and Serengeti Resources Inc. (TSX-V: SIR) are 41%/59% partners (QUEST) exploring 10 properties totaling 56,670 ha in the Quesnel terrane north of Woodjam for precious and base metals. Fjordland's shares trade on the TSX Venture Exchange under the symbol "FEX". For more information visit

About Gold Fields Limited

Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.5 million ounces per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfield and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 78 million ounces and Mineral Resources of 281 million ounces. For more information visit the company's website at

Tom Schroeter
President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.

Contact Information

  • Fjordland Exploration Inc.
    John Gomez
    Manager, Investor Relations
    604-669-8336 (FAX)